JCR-VIS Credit
Rating Company Limited (JCR-VIS) has placed the Management Quality Rating of
‘AM3-’ (AM3 Minus) assigned to AKD Investment Management Limited (AKDIML) under
‘Rating Watch Developing’ status.
The rating
action has been taken in view of the approval of Scheme of Arrangement for merger/
amalgamation of Pak Oman Asset Management Company Limited with and into AKDIML
by the Board of Directors of AKDIML, subject to no objection and sanction by
the Securities and Exchange Commission of Pakistan. Progress in this regard
will be actively tracked by JCR-VIS, to assess impact of the same on the
outstanding management quality rating of the institution.
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